South Korea: Income and profits taxes
* indicates monthly or quarterly data series
| South Korea |
Income, profits, and capital gains taxes: percent of revenue |
|---|---|
| Latest value | 27.55 |
| Year | 2024 |
| Measure | percent |
| Data availability | 1972 - 2024 |
| Average | 27.70 |
| Min - Max | 22.16 - 34.76 |
| Source | The World Bank |
| Available for | Data download |
The latest value from 2024 is 27.55 percent, a decline from 29.99 percent in 2023. In comparison, the world average is 26.79 percent, based on data from 87 countries. Historically, the average for South Korea from 1972 to 2024 is 27.7 percent. The minimum value, 22.16 percent, was reached in 1975 while the maximum of 34.76 percent was recorded in 1989.
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* indicates monthly or quarterly data series
| Recent values | South Korea: Income and profits taxes |
|---|---|
| 2024 | 27.55 |
| 2023 | 29.99 |
| 2022 | 33.88 |
| 2021 | 30.40 |
| 2020 | 28.06 |
| 2019 | 29.38 |
| 2018 | 30.42 |
| 2017 | 28.34 |
Definition: Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 17.65 | 2025 | percent |
| Government spending, in dollars | 330.43 | 2025 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -0.78 | 2024 | percent |
| Primary budget balance | -0.70 | 2024 | percent |
| Government expenditure | 124,575.80 | Q1/2026 | billion |
| Long-term interest rate | 4.29 | 8/2026 | percent |
| Tax revenue | 13.29 | 2024 | percent |
| Taxes on goods and services | 16.99 | 2024 | percent |
| Taxes on international trade | 1.04 | 2024 | percent |
| Income and profits taxes | 27.55 | 2024 | percent |
| Foreign aid | -55.10 | 1999 | million U.S. dollars |
| Government debt | 49.81 | 2024 | percent |
| Government debt in foreign currency, percent | 1.04 | 2023 | percent |
| Government debt held by non-residents | 19.11 | 2024 | percent |
| Sovereign debt average maturity | 9.91 | 2024 | percent |
| Short-term government debt | 8.76 | 2024 | percent |